Rumors about spot bitcoin ETF approvals aside, Fink called the recent rally a “flight to quality.”. Source
BlackRock CEO Larry Fink Seeing Client Demand for Crypto 'Around The World'
Tag: CEO
Crypto Lender BlockFi Believed Alameda Was Solvent, CEO Zac Prince Testifies
Before collapsing in November 2022, Alameda had about $800 million to $850 million of outstanding loans from BlockFi, Prince said, and $650 million remained after Alameda’s demise. Alameda even posted additional collateral in the form of FTT as well as Robinhood and shares of a Grayscale trust, Prince recalled. Source
Stablecoin issuer Tether appoints Paolo Ardoino as new CEO
The firm behind the USDT stablecoin says its current boss Jean-Louis van der Velde will transition to an advisory role for Tether. The issuer of the largest stablecoin by market capitalization USDT, Tether Limited, has appointed Paolo Ardoino as the firm’s new head. In a blog announcement on Friday, Oct. 13, the Virgin Islands-based firm said Ardoino will take the new position in December 2023, succeeding Jean-Louis van der Velde, who will “transition to an advisory role for Tether while retaining his position as CEO for Bitfinex.” In this role,…
Tether stablecoin firm appoints CTO Paolo Ardoino as CEO
Tether, the issuer of the world’s largest stablecoin by market capitalization, is replacing its CEO as the company works to expand its areas of focus. Paolo Ardoino, who has been serving as Tether’s chief technology officer since 2017, will become the new CEO of the firm in December 2023, Tether announced on Oct. 13. Ardoino will replace Jean-Louis van der Velde, who will transition to an advisory role for Tether while retaining his position as CEO of Tether’s sister company Bitfinex. Ardoino will continue in his roles as CTO for…
Tether Promotes CTO Paolo Ardoino to CEO
“Paolo is extremely well-suited to lead Tether into this exciting new era,” said Jean-Louis van der Velde. “I believe Tether is poised to continue its rapid growth, with a continued focus on emerging markets and transformative technology. I think I can speak for the entire company when I say that we eagerly anticipate Paolo’s leadership as he guides Tether toward a future where finance knows no bounds.” Source
Former Voyager CEO Slammed with Lawsuit from Each of CFTC and FTC Over Fraud
The FTC lawsuit accuses the former Voyager CEO of fraud and misleading users, while the CFTC said the firm and CEO took reckless risks. The Federal Trade Commission (FTC) and the United States Commodity Futures Trading Commission (CFTC) have both filed lawsuits against the former CEO of lending platform Voyager. Each lawsuit claims that Steve Ehrlich conducted fraudulent activities and was insincere about government customer protection. The FTC Lawsuit Against Voyager In a Thursday press release, the FTC said it is suing Ehrlich for “falsely claiming that customers’ accounts were insured…
CFTC Files Lawsuit Against Voyager Digital And Former CEO For Fraud
The US Commodity Futures Trading Commission (CFTC) has taken legal action against Voyager Digital and its former CEO, Stephen Ehrlich. The CFTC filed a complaint in the US District Court for the Southern District of New York, alleging fraud and registration failures related to the operation of the Voyager digital asset platform and an unregistered commodity pool. Voyager Faces Legal Action For ‘Misleading Customers’ According to the CFTC, Ehrlich falsely marketed the Voyager platform as a safe haven for high-yield returns, deceiving customers to purchase and store digital assets. Per…
CEO admits to manipulating crypto futures in cherry-picking scandal
Former CEO of Systematic Alpha Management LLC Peter Kambolin has pleaded guilty to a “cherry-picking” scheme involving cryptocurrency futures contracts, marking a first-of-its-kind case. In an unprecedented case, Peter Kambolin, ex-CEO of Systematic Alpha Management LLC (SAM), has admitted guilt in a “cherry-picking” scheme involving cryptocurrency futures contracts. This practice, known as “cherry-picking”, involves investment managers purposefully allocating lucrative or unprofitable trades to select accounts, allowing them to garner significant profits. The U.S. Department of Justice (DOJ) revealed that Kambolin manipulated the allocation of profits and losses from these futures…
CFTC announces lawsuit against Voyager Digital and former CEO
The United States Commodity Futures Trading Commission (CFTC) has filed a complaint against Stephen Ehrlich, the former CEO of crypto lending firm Voyager Digital. In an Oct. 12 announcement, the CFTC said it had filed a lawsuit in the U.S. District Court for the Southern District of New York against Ehrlich and Voyager for alleged fraud and “registration failures” connected to the platform and its “unregistered commodity pool.” The commission said it planned to seek restitution, disgorgement, civil monetary penalties, and permanent trading and registration bans. “Ehrlich and Voyager falsely…
Former Alameda Research CEO Caroline Ellison Says Sam Bankman-Fried Conspired to Keep Bitcoin Price Below $20K Using Customers’ Funds
Ellison told the New York court that SBF ordered her to lie about the state of financial statements for Alameda Research to secure more loans against customers’ deposits at FTX. Details of how former crypto empire FTX and Alameda Research have emerged through the testimony from Caroline Ellison, former Sam Bankman-Fried’s (SBF) girlfriend. Ellison led the Alameda Research team but used funds from FTX customers to make risky crypto bets without traditional risk management practices. As a result, the duo was entangled in a web of lies that deceived other…